Graphic Packaging Holding Company (NYSE:GPK) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC decreased its holdings in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 39.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,216 shares of the industrial products company's stock after selling 25,127 shares during the period. Synergy Asset Management LLC's holdings in Graphic Packaging were worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Aspire Private Capital LLC boosted its holdings in shares of Graphic Packaging by 10.5% in the 1st quarter. Aspire Private Capital LLC now owns 28,093 shares of the industrial products company's stock valued at $729,000 after buying an additional 2,665 shares in the last quarter. Advocate Group LLC boosted its stake in Graphic Packaging by 10.3% in the first quarter. Advocate Group LLC now owns 249,718 shares of the industrial products company's stock valued at $6,483,000 after acquiring an additional 23,319 shares in the last quarter. Advisor Resource Council acquired a new stake in Graphic Packaging in the first quarter valued at approximately $1,168,000. State of Alaska Department of Revenue grew its holdings in Graphic Packaging by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 35,155 shares of the industrial products company's stock worth $912,000 after purchasing an additional 935 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC increased its position in shares of Graphic Packaging by 4.1% during the first quarter. Elevation Point Wealth Partners LLC now owns 11,770 shares of the industrial products company's stock worth $306,000 after purchasing an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Stock Performance

Shares of NYSE GPK traded down $0.37 during midday trading on Wednesday, reaching $21.20. 3,496,607 shares of the stock were exchanged, compared to its average volume of 2,599,816. The company has a quick ratio of 0.73, a current ratio of 1.88 and a debt-to-equity ratio of 1.80. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.84 and a beta of 0.74. The firm has a 50-day simple moving average of $22.78 and a two-hundred day simple moving average of $25.38. Graphic Packaging Holding Company has a twelve month low of $20.86 and a twelve month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). Graphic Packaging had a return on equity of 23.68% and a net margin of 7.15%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the company earned $0.66 EPS. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts anticipate that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the industrial products company to buy up to 23.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 5th. Investors of record on Sunday, June 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, June 13th. Graphic Packaging's dividend payout ratio (DPR) is presently 21.46%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPK. Royal Bank Of Canada lowered their price objective on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Raymond James Financial reissued an "outperform" rating and issued a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Truist Financial cut their price objective on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. UBS Group assumed coverage on shares of Graphic Packaging in a research report on Wednesday, June 4th. They set a "neutral" rating and a $24.00 target price on the stock. Finally, BNP Paribas Exane cut shares of Graphic Packaging from an "outperform" rating to a "neutral" rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.40.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.